{LONGTERMINVESTORS} BSE Sensex and NSE Nifty charts (Aug 05, 2016): bulls fight off a bear attack

FIIs were net buyers of equity worth Rs 2800 Crores during the first trading week of Aug '16. DIIs were net sellers of equity worth Rs 1500 Crores, as per provisional figures, but were net buyers on Fri. Aug 5 - enabling both Sensex and Nifty to close with small weekly gains.

The expected passing of the GST constitutional amendment bill in the Rajya Sabha had already been discounted by the stock market. A lot of administrative steps are required after the Lok Sabha and at least 16 of the states ratify the bill, and a GST Council is set up. 

Analysts are falling over each other in trying to explain the likely effects of GST on various business sectors. Investors should wait for the GST Council to be set up and decide on the various slab rates. Despite all the publicity, there will not be a single GST rate, as luxury items may attract a higher rate and some items will be exempted or have lower rates.

Read more at:

http://investmentsfordummieslikeme.blogspot.in/2016/08/bse-sensex-and-nse-nifty-charts-aug-05.html

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